What is Mortgage Protection Insurance?
For most American families, your mortgage represents the largest source of personal debt and one of your greatest assets. Mortgage insurance is a program designed to make your payments, or pay off your mortgage, in the event of your death.
Is mortgage protection available for you?
If you own a home with a mortgage, you are probably eligible for mortgage protection insurance. It's important not to confuse mortgage protection insurance with private mortgage insurance (PMI) or mortgage insurance premium (MIP). These types of insurance do not protect you, instead they protect the bank or lender.
